Mega e-auction of GLADA begins

Kuldip Bhatia
Ludhiana, December 4

One of the biggest ever sale of commercial sites, freehold commercial land and residential properties by the Greater Ludhiana Area Development Authority (GLADA) and Punjab Urban Planning and Development Authority (PUDA) through e-auction got under way which would conclude on December 10.

According to GLADA officials, properties being offered on sale are 14 shop-cum-office (SCO) sites in Sector 32 on Samrala Road, Sector 32-A, Dugri Phase II, PWD Rest House, Khanna, and Old Jail Road (Pocket 1 and 2).

Among other commercial sites put on auction are four shop-cum-flat (SCF) sites in Dugri Phase II, 16 shops in Sector 32 and Old Jail Road, 20 booths in Sector 32, one school site in Sector 39, four residential plots in Sector 39-A and a chunk of prime commercial land opposite Mini Secretariat on Ferozepur Road (national highway) here.

Of 60 commercial sites and residential plots put on the block, 50 are located in colonies developed by GLADA while 10 sites, including a 8.33-acre chunk of freehold commercial/group housing site (on Ferozepur Road) are being offered on behalf of PUDA under the OUVGL (optimum use of vacant government land) scheme.

As per the offer document, for the schools site with an area of 2000 square yards in Sector 39, the bids would be accepted only from registered trusts or societies. The site carries a reserve price of Rs 10,000 per square yard and eligibility fee for participation in the e-auction has been fixed at Rs 4 lakh.

This would perhaps be one of the biggest sales of vacant government land in Punjab. On the block is a prime chunk of land measuring 8.21 acre on the main Ferozepur Road (a national highway) right in front of the Mini-Secretariat here with a reserve price of Rs 333.79 crore. This land belonged to the Canal/Irrigation Department and was got vacated a couple of years ago under the optimum use of land scheme of the state government.

This particular chunk of land is being offered for sale for perhaps the fourth time with a slashed price. From 2014 onwards, the site was offered for sale through public auction at a reserve price of Rs 1,25,880 per square metre with a total cost at Rs 415.71 crore. However, in the wake of lukewarm response of buyers and failure to sell the piece of land in three successive public auctions, the reserve price of the land has now been reduced by 20 per cent to Rs 1,00,463 per sq mtr with a total cost standing at Rs 333.79.

What’s on sale 

14 shop-cum-office sites in Sector 32 on Samrala Road, Sector 32-A, Dugri Phase II, PWD Rest House, Khanna, and Old Jail Road (Pocket 1 and 2). Among other commercial sites put on auction are four shop-cum-flat (SCF) sites in Dugri Phase II, 16 shops in Sector 32 and Old Jail Road, 20 booths in Sector 32, one school site in Sector 39, four residential plots in Sector 39-A and a chunk of prime commercial land opposite Mini Secretariat on Ferozepur Road (national highway) here.

Chunk of prime commercial land

On the block is a prime chunk of land measuring 8.21 acre on the main Ferozepur Road (a national highway) right in front of the Mini-Secretariat here with a reserve price of Rs 333.79 crore. This land belonged to the Canal/Irrigation Department and was got vacated a couple of years ago under the optimum use of land scheme of the state government.